Physical Inventory Procedures: Annual Inventory Procedures
Annual inventories are conducted during a specified time window during each fiscal year and involve a 100 percent inventory of all items within a department.
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Annual inventories require a greater time resource and more coordination than cyclic inventories, but have less total disruptions on operations because they occur only once each fiscal year. Use the Physical Inventory Procedures: Annual Inventory Procedures mobile app for details on how to conduct an annual inventory.
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